Relay Business Checking
Startup / Profit First multi-account checking — $0 Starter, up to 20 checking buckets, QBO/Xero sync; no APY on checking
First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
Costs & Fees
| Metric | Relay Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Monthly maintenance | Starter $0; Grow $30; Scale $90 limited-time (list $120). Paid plans billed from designated checking account. | $0 unconditional |
| Fee waiver | No balance waivers — Grow/Scale are subscriptions, not waivable by balance | N/A — already $0 |
| Transaction fees | No per-item checking cap published. Unlimited standard ACH and digital items. Same-day ACH extra: $1 Starter / $0.50 Grow / included Scale. | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. |
| Overdraft/NSF | $0 overdraft fees; transactions that would overdraw decline. Optional backup account internal pull (not a priced OD product). | Conflict: marketing says 'no overdraft fees.' Fee schedule lists Returned Item $20 and Uncollected Funds $30 (schedule dated 03/15/2018). Confirm at opening. |
| ATM fees | Allpoint in-network $0 Relay fee. Out-of-network owner surcharge not rebated. Allpoint+ cash deposit $1,000/txn; cash withdrawal $400/txn. | Bank ATM fee $0. Third-party operator surcharge possible. Up to $10/month reimbursement of third-party ATM surcharges. No branded free network. 2% ISA on intl ATM/debit. |
| Wire/ACH | Incoming domestic: $5 (Aug 2026 official table). Outgoing domestic: $8 Starter / $5 Grow / $5 Scale. Incoming intl: typically $0. Outgoing intl Local Network $5/$3/$1.50; SWIFT $25/$22/$20. Standard ACH in/out: $0. | Incoming domestic: $15. Outgoing domestic: $20. Incoming intl: $15. Outgoing foreign: $50. Standard ACH in/out: not disclosed as fee (treated as free). Business ACH default cap $25,000/day unless raised in writing. |
Interest & Yields
| Metric | Relay Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Checking APY | None — non-interest-bearing checking | 0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%. |
| Savings APY | Plan-tiered on up to 2 savings accounts: Starter 1.11%, Grow 1.75%, Scale 3.00% APY (as of 2026-05-01). Variable; savings cannot originate ACH/wires. | |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Thread Bank — combined across all Relay sub-accounts | Standard FDIC $250,000 per depositor per ownership category at First Internet Bank of Indiana |
Features & Access
| Metric | Relay Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Branch/ATM network | No branches. Allpoint network (32k–55k+ cited). Cash deposit at Allpoint+ only ($1k/txn). Green Dot retail. | No branch network. HQ lobby Fishers, IN only. Any ATM for withdrawal — bank $0, up to $10/month surcharge rebate. No ATM cash deposit advertised. |
| Mobile app | iOS ~4.8; Android ~4.5 (~3.5k / ~1.1k reviews per 2026 aggregators) | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) |
| Virtual cards | Included — physical + virtual Visa debit with freeze, limits, spend policies | Not disclosed for this checking tier |
| Opening deposit | $0 | $100 conservative (official page silent; secondary sources split $0 vs $100) |
| Eligibility | U.S.-registered sole prop, LLC, C-corp, S-corp, partnership, nonprofit. Not supported: personal, escrow, trusts, Series LLCs, 401(k)s. | U.S.-based businesses; owner at least 18. Structures not fully published — NerdWallet cites sole prop, LLC, corp with EIN or SSN and formation docs. |
Pros & Cons
Relay Business Checking
Pros
- Starter $0 with no minimum balance, $0 OD fees, and no per-item checking cap
- Up to 20 checking accounts (50 on Scale) with auto-transfer rules — rare on free tier
- Native QuickBooks Online and Xero feeds on all plans including Starter
- Outbound domestic wires $8/$5/$5 — below typical big-bank $15–$30
- IntraFi sweep to $3M; Scale savings 3.00% APY; unlimited users and virtual debit cards
Cons
- Checking earns 0% APY — savings yield is plan-gated and mid-pack at Starter/Grow
- Mobile check funds can take up to 7 business days
- Cash deposits via Allpoint+/Green Dot only — retailer fee up to $4.95, low caps
- Official Aug 2026 table lists $5 incoming domestic wires (conflicts with free-inbound marketing)
- BaaS structure (Thread Bank); sub-accounts do not multiply $250k FDIC; weekday-only support
First Internet Bank Do More Business Checking
Pros
- $0 monthly maintenance, $0 stated per-item fees, unlimited transactions (2026 FAQ)
- 0.50% APY on checking at $10k ADB — uncommon among free business checking (rate 6/16/2026)
- Balance Optimizer sweeps idle cash to First IB MMA at 2.94% / 3.64% without third-party sweep
- Phone support into evening and Saturday; Zelle for Business and account aggregation included
- Direct FDIC member bank (cert. 34607) — not a fintech/partner stack
Cons
- No usable cash-deposit system
- Incoming wires $15 even domestic — recurring cost for wire-paid businesses
- Checking APY modest and gated at $10,000 ADB; below that, yield effectively zero
- Standard FDIC $250k only; no advertised excess-insurance network
- Stale 2018 fee schedule vs 'no overdraft fees' marketing; check holds up to 7–9 business days
Verdict
Relay Business Checking
Relay Business Checking is an online SMB platform from Relay Financial Technologies with deposits at Thread Bank, Member FDIC, and IntraFi sweep to $3M. Checking is non-interest-bearing across Starter ($0), Grow ($30), and Scale ($90–$120) plans; savings APY is 1.11%/1.75%/3.00% as of May 1, 2026. Differentiator is operational: up to 20–50 checking buckets with auto-allocation, unlimited users, virtual Visa debits, and native QBO/Xero on Starter. Official Aug 11, 2026 fees: incoming domestic wire $5, outgoing $8/$5/$5, same-day ACH $1/$0.50/included. Weak on cash deposits, check holds (7 days), 0% checking, and BaaS partner-bank structure. Strong for Profit First digital SMBs; weak for cash retail and same-day check users.
First Internet Bank Do More Business Checking
Do More Business™ Checking is First Internet Bank of Indiana's single-tier online SMB checking. Direct FDIC member (cert. 34607). $0 maintenance, unlimited items, no cash network. 0.50% APY requires $10k ADB (rate 6/16/2026). Balance Optimizer sweeps to internal MMA (2.94%/3.64%). Costs: $15 incoming wires, $20 outgoing domestic, $50 outgoing foreign, $10/month ATM rebate cap, $3 paper statements, $5/month dormant. Funds availability can hold checks 7–9 days. Strong phone hours and Zelle; weak for cash, incoming wires, and balances above $250k FDIC.